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Uncertainty on U.S. policy complicates outlook, Voestalpine CEO says
June 1, 2017 / 7:34 AM / 7 months ago

Uncertainty on U.S. policy complicates outlook, Voestalpine CEO says

VIENNA, June 1 (Reuters) - Uncertainty about the United States’ future economic policies makes it difficult to give a concrete business forecast for the second half of Voestalpine’s business year, the chief executive of the Austrian company said on Thursday.

It was unclear when to expect U.S. tax law changes and infrastructure projects, and what effect they might have, Chief Executive Wolfgang Eder in a conference call with reporters.

He was referring to U.S. President Donald Trump’s election campaign promise to introduce an extensive infrastructure package as well as substantial tax reductions.

“We don’t know how matters stand and how political decisions might affect the economy,” Eder said, adding that one had to be prepared for import restrictions in the United States.

Voestalpine generates around 11 percent of its revenue in the North American Free Trade Agreement (NAFTA) area and aims to increase the share to 15 percent by 2020. (Reporting by Kirsti Knolle; editing by Francois Murphy)

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